NatGas Spot Prices Soar Even More than HH on Heat, Shortages

The price of natural gas for the NYMEX futures contract (July) based on the price at the benchmark Henry Hub, hit a new, 30-month high yesterday closing at $3.62/MMBtu. But that's not even the biggest news. The spot price of natural gas at multiple locations across the country (including the Marcellus/Utica) is cooking, largely due to the hot temps in both the Pacific Northwest and the East Coast. The cash price at Algonquin city-gates (Boston area) rose about $1 to trade at $4.87/MMBtu, while Transco Zone 6 NY (New York City area) was up 79 cents at $3.93/MMBtu. Cove Point LNG (exports 100% Marcellus molecules) cash prices climbed 66.5 cents to $3.845.

---

To view this content, log into your member account. (Not a member? Join Today!)